Team McNeil Real Estate Blog » Kitchener-Waterloo home sales

Spring is in the Air!!

wmcneil — Mon, 08 Mar 2010 14:14:39 +0000

By Warren McNeil,

I am a little apprehensive saying this because as soon as I say it, we will be hit with a big snowstorm. I hope Spring is here? I love Spring for a few reasons. I always know when Spring is here because I get to go to the Elmira Maple Syrup festival. Who doesn’t love Sapfest! I can picture those pancakes now.. Yummmmmy!! The second thing is I get to open my fish pond. Hopefully my fish are OK this year. There were a couple of really cold nights. We have had really good luck over the past 5 years so I am expecting this year to be the same.

The other way we can tell Spring is here is the Kitchener Waterloo Real Estate market heats up. I can tell this year is going to be hot. Buyers are “chomping at the bit” to get out house hunting. Some already are.. The biggest issue though is the lack of inventory. There are lots of multiple offers going on and buyers are paying more money for houses. Sellers are getting top dollar for their houses. The is great for sellers but not so great for buyers. With that said, interest rates are still low. I think the key thing buyers should consider is the money they are saving in interest from the bank is offset by the prices they are paying for the houses. Move-up buyers will get more money for their houses but they will also pay more money for the house they plan to buy.

What does this all mean? To me it means that it is still a good time to buy despite the higher prices. Not all areas are effected. So you can still get good deals if you look for them. Research is important before making decision.

It is important to get out and see everything that is available and act fast when you find the house you like.

Thanks for reading!

We are a full-time real estate team in Waterloo Region, Woolwich & Wellesley Townships. We enjoy assisting buyers and sellers with the purchase or sale of real estate in the Kitchener-Waterloo, Cambridge, Elmira, Wellesley, Wilmot, Drayton and everywhere in between. If you would like us to help you with your home search, please check out our brand-new free search website or if you are thinking of selling, get a free market evaluation.

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
8 www.TeamMcneil.com, www.ClickThatHouse.com, www.LoftStyle.ca, www.ElmiraRealEstate.ca

Connect with us on the following social networks

Facebook: www.facebook.com/teammcneilremax

Kitchener Waterloo Real Estate Board Statistics for February 2010

wmcneil — Sat, 06 Mar 2010 18:13:39 +0000

By Warren McNeil

The Table below shows the most relevant real estate data for the month of Feb 2010 and compares it with the previous month and the previous year, January 2010 and February 2010, respectively. This information is for single detached only in all areas.

WATERLOO REGION (ALL Areas)	(Feb 10)	(Feb 09)	%CHANGE 09/10	(Jan 10)	%CHANGE Jan/Feb
UNITS SOLD	350 SOLD	244 SOLD	+43.4%	286 SOLD	+22.4%
AVERAGE PRICE SOLD	$324,631	$280,332	+15.8%	$316,687	+2.5%
ACTIVE LISTINGS (END of PERIOD)	1132 ACTIVE	1496 ACTIVE	-24.3%	1067 ACTIVE	+6.1%
AVERAGE DAYS ON MARKET	42 DAYS	56 DAYS	-25%	54 DAYS	+22.2%
SALE PRICE TO LIST PRICE RATIO	98.3%	97.3%	+1.0%	98.1%	+0.2%

The above information is believed to be correct errors and ommissions accepted.

See my recent post titled What’s going on with the Kitchener-Waterloo Real Estate Market

Thanks for reading!

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What’s going on with the Kitchener Waterloo Real Estate Market?

wmcneil — Wed, 03 Mar 2010 21:49:44 +0000

By Warren McNeil,

The spring market is nearly here and our Team is really gearing up. The Bank of Canada has maintained the interest rates which is really good news.

See: http://creanews.ca/2010/03/02/bank-of-canada-maintains-interest-rates-4/

Buyers are in the market right now looking to buy houses. However the biggest problem is low inventory levels. In January, the number of active listings was down 33% over 2009.

See: http://files.newswire.ca/577/MarketTrendsRpt2010.pdf

Our team has been doing lots of market evaluations for people lately so we know that it’s going to be a busy spring.

Now is a good time to sell because of the following reasons:

less inventory can work in the sellers favour. less competition
low interest rates for buyers making it easier to buy
there’s an abundance of buyers
the minimum downpayment requirement is still 5% and not 10%
the olympics are over. Not sure if that’s a good reason but it sounded good
higher offer potential
multiple offer potential

The next three months are going to be really interesting.

Thanks for reading!

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Facebook: www.facebook.com/teammcneilremax

Top 5 Things to Expect From a Tech-Savvy Realtor

wmcneil — Sat, 13 Feb 2010 17:17:16 +0000

By Warren McNeil

Here is a new video I did regarding the “Top 5 Things to Expect From a Tech-Savvy Realtor”

Enjoy

[See post to watch Flash video]

Here is the transcript of the video:

Hi There! I am Warren McNeil from Team McNeil and Re/Max Twin City Realty in Kitchener

The Internet has changed the way we all communicate in this world. As a realtor, we need to constantly stay current with technology and utilize these new methods with our marketing. Technology, if used right, can make a huge difference when marketing a home for sale. Gone are the days of the big MLS book. According to the National Association Realtors, 84% of people start their home search onlne. So hiring a tech-savvy realtor is more important then ever to give you that edge you need to sell or buy your next home. Here are the top 5 reasons to hire a tech-savvy realtor.

Number 5 – Website
It is important that a realtor has their own website. In my opinion, websites are not optional they are mandatory. They serve many purposes. A realtor’s website should be able to display listings with lots of photos, detailed desctriptions of the property and an area for virtual tours as well as provide an easy way for prospective buyers to contact the realtor.

Number 4 – Print advertising
A realtor who utilizes both print advertising and the internet is better able to take advantage of both mediums strengths. Marketing a house for sale in the newpaper and leading the buyer to the website for more information is crucical for maximizing the marketing of a property. You still need both! A tech-savvy realtor understands that many consumers still rely on traditional advertising methods. So don’t let anyone tell you otherwise.

Number 3 – Mobility
Realtors must be able to access email or text messages while in the field. Prospective buyers want information rightaway so it is very imortant for realtors to have a PDA such as a Blackberry or an Iphone.

Number 2 – SEO or Search Engine Optimization
Realtors who have good search engine ranking ensures that your listings get found on the Internet. Realtor.ca is a great website but it is not the only website to rely on when it comes to marketing your home online. Buyers also use search engines such as Google, Yahoo or Bing to look for houses. Realtors who have their websites optimized will have a better chance at getting their house listings found.

Number 1 – Web 2.0 – Social media
The internet has become more interactive over the past 5 years. Having a website is not good enough. Realtors also need to blog, do videos, Twitter and use Facebook. These are all methods that are important for us to connect with clients, prospective buyers and prospective sellers. Having a realtor that utilizes some or all of this technology ensures that you hired the right person to do the job.

The good news is, technology will continue to evolve. As new technologies come out we must harness their effectiveness so we can all do our jobs more efficiently!

Thanks for watching and see you next time!

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118

Connect with us on the following social networks

Facebook: www.facebook.com/TeamMcNeilRemax

websites: www.TeamMcNeil.com, www.ClickThatHouse.com,
www.KitchenerLofts.com, www.ElmiraRealEstate.ca

[Video] Top 5 Reasons to Hire a Realtor to Help You Sell Your House

wmcneil — Sat, 30 Jan 2010 03:43:44 +0000

By Warren McNeil,

I put together another video that will be helpful for people who are thinking about selling their house. I give you 5 good reasons why you should hire a realtor to sell your house. If you have any questions or comments please leave them below. I hope you enjoy it!

[See post to watch Flash video]

Here is a transcript of the video:

Hello again, I’m Warren McNeil. Real Estate Agent with Re/Max Twin City Realty in Kitchener

Today I am going to talk about the “Top 5 Reasons to Sell Your House with a Realtor”. I know there are many sellers out there right now getting ready to sell their house this year. The primary goal when selling you house is to get the most money possible. And having a good realtor on your side will make sure this process is successful. Here are the “Top 5 Reasons to sell Your House with a Realtor”.

Number 5
Pricing: We know the real estate market and can recommend a price based on recent sales in the area. We also take into consideration the condition of the home and its location. Properly pricing your house could mean the difference between your house selling quickly or sitting on the market forever. The question you need to ask yourself is, do you want to sell your house or do you want to just put it on the market?

Number 4
Market Exposure: A good realtor will market your home to the fullest so that it gets the best exposure possible. The effectiveness of various marketing is always changing, therefore we must remain cutting edge and research what works and stay on top of current trends. In addition to the traditional marketing methods such as print advertising or direct mail we also utilize the internet and social media such as Blogs, Facebook, Twitter and Youtube to name a few.

Number 3
Experience: A good agent who sells lots of homes will be able to provide a high level of experience that will ensure that you get top dollar for you home and will also make sure that the process goes as smoothly as possible. Our experience will help reduce your stress!

Number 2
MLS and realtor.ca. MLS or multiple listing service is a database created by realtors which keeps track of all the homes that are currently for sale and those that have sold. The data in this database is very valuable and provides the realtor, sellers and buyers with information about the local real estate market. Realtor.ca is the main interface to this database and is searchable. Having your house listed in the MLS database will ensure that your house gets the maximum exposure to all prospective buyers anywhere in the world. There could be a buyer in China right now looking to relocate and is using realtor.ca to search the MLS for homes for sale in Waterloo.

And the #1 reason to hire a realtor is to minimize risk and shift the responsibility. To act as a buffer between you and the buyer to ensure that emotions don’t get in the way. To protect your best interests and seek out qualified buyers. Dealing only with licensed realtors instead of complete strangers who may not have your best interests at heart. Shouldn’t you use a trusted professional to protect your single largest asset.

Thanks for reading!

We are a full-time real estate team in Kitchener Waterloo area. We enjoy assisting buyers and sellers with the purchase or sale of real estate in the Kitchener-Waterloo or Cambridge areas. If you would like us to help you with your home search, please check out our brand-new free search website.

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

Kitchener Waterloo Real Estate Board Statistics for December 2009

wmcneil — Sun, 24 Jan 2010 19:49:10 +0000

By Warren McNeil

The Table below shows the most relevant real estate data for the month of Dec 2009 and compares it with the previous month and the previous year, Nov 2009 and Dec 2008, respectively. This information is for single detached only in all areas.

WATERLOO REGION (ALL Areas)	(Dec 09)	(Dec 08)	%CHANGE 09/08	(Nov 09)	%CHANGE Dec/Nov
UNITS SOLD	214 SOLD	151 SOLD	+41.7%	356 SOLD	-39.9%
ACTIVE LISTINGS (END of PERIOD)	879 ACTIVE	1220 ACTIVE	-28%	1208 ACTIVE	-28.4%
AVERAGE PRICE SOLD	$298,757	$295,027	+1.3%	$319,706	-6.6%
AVERAGE DAYS ON MARKET	51 DAYS	61 DAYS	-16.4%	47 DAYS	+8.5%
SALE PRICE TO LIST PRICE RATIO	97.8%	96.8%	+1%	98.1%	-0.3%

Here is an excerpt from the report from the KW Real Estate board.

K-W Home Sales End Year on Strong Note

Another new record for residential sales was set by the Kitchener‐Waterloo Real Estate Board (KWREB) in December. MLS® home sales hit 356 units to the end of December, a 60 percent increase from the same month one year ago, and a 15 percent increase from the previous record set in 2006.

The steady climb of residential property sales that began in the second quarter brought the year‐to‐date total in Kitchener‐Waterloo and area to 6,467, a 5.8 percent increase over 2008.

“2009 got off to a slow start due to some lingering economic concerns,” reports Ted Scharf, the President of the Kitchener‐Waterloo Real Estate Board, “however, once consumers regained their confidence around April of this year, it proved to be a surprisingly active year. We had strong sales in the second quarter followed by the best third and fourth quarter sales ever.”

To read the whole report, click here

My impression of this information is that the Kitchener Waterloo real estate market continues to remain strong and will continue to remain strong throughout 2010. I think the HST will have a minimal impact of home sales this year. People will rush to buy houses before the HST hits and then slow down a bit upon its implementation. If interest rates remain low then we might not see any slowing of the real estate market in Kitchener Waterloo. I think one of our challenges this year will be to keep house pricing under control. If house prices rise too much. they will just sit on the market longer. I am confident that everything will be just fine!!! Based on the activity and all the opinions of my peers, 2010 will be better then 2009.

Thanks for reading!